[Video] Long Dow, Short FTSE? Platinum Hints at Swing High
Matt Simpson June 29, 2021 4:59 AM
Over the near-term we see the potential for the Dow Jones and FTSE to diverge, with the former showing a greater appetite to retest its record high.
After looking at key levels and patters for the Dow and FTSE, we also catch up on platinum futures as it’s is now hinting that a swing high may have formed below its 200-day eMA.
- Fortune Brands (FBHS) printed a noteworthy bullish candle yesterday to suggest a swing low has formed at 96.83. A break of 99.41 is now required to initiate the bullish bias, in line with its longer-term trend bullish wedge pattern.
- Abbott Laboratories has been removed from the bearish watchlist, as it failed to break beneath 109.73 support before moving higher. Interestingly, it did manage to close the gap at 115.70 during yesterday’s strong bullish close but we currently see no desirable setup on this chart.
S&P 500: Market Internals
S&P 500: 4290.61 (0.23%), 28 June 2021
- Information Technology (1.1%) was the strongest sector and Energy (-3.3%) was the weakest
- 7 out of the 11 S&P 500 sectors closed higher
- 4 out of the 11 sectors outperformed the S&P 500
- 207 (40.99%) stocks advanced and 298 (59.01%) declined
- 90.3% of stocks closed above their 200-day average
- 48.12% of stocks closed above their 50-day average
- 42.97% of stocks closed above their 20-day average
- + 7.38% - Enphase Energy Inc (ENPH.OQ)
- + 7.36% - ETSY Inc (ETSY.OQ)
- + 6.11% - NRG Energy Inc (NRG.N)
- -7.04% - Carnival Corp (CCL.N)
- -6.47% - Royal Caribbean Cruises Ltd (RCL.N)
- -6.09% - Norwegian Cruise Line Holdings Ltd (NCLH.N)
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